Unemployment in the US has been at a record low rate, resulting in a hefty workload of talent searches for recruiters. While the job hunt may be harder with a large pool of talent to choose from, search firms have tons of business on their plates. With that extra business on your books, this is the perfect time to invest in your business.
Taking advantage of this time can help you invest in new systems to help you succeed when the other shoe drops. Not only will you be able to make sure you are focusing your efforts in the right spot, but you’ll also be able to get on the cutting edge of recruiting technology. Why wouldn’t you want a head start like that?
While many companies are collecting data on their recruitment process, how many are effectively using that data? Gathering statistics on your candidates, placements, and clients can have incredible ROI when it comes to exploring new industries or expanding your candidate searches. With candidates as plentiful as they are currently, there is a lot of data that is ripe for the picking.
What do you do with this data? Using this knowledge, recruiters can more accurately measure the effectiveness of their time. More than ROI on the tools you use, you can recognize avenues where your staff may be wasting their time. Paring down your searches and refining your filters helps get the most qualified candidates more quickly, saving a lot of time and money.
Dive into Artificial Intelligence
With such an influx of candidates, now is the perfect time to implement AI into your screening process. Taking the time to invest in AI now will allow you to use the busy times to train your systems. Although AI saves time, it needs rules and patterns to function well. Using a large talent pool to build patterns makes AI tools much more accurate when available candidates are much fewer.
Another advantage in investing in AI during record low unemployment is the time savings it brings. By automating some of the more tedious tasks like job description writing and candidate screening, your team is free to see more clients and candidates. Increasing efficiency allows your company to further capitalize on the booming market.
Make Connecting Easier
We’ve all heard the buzz about AI in the recruiting industry. While it is a huge asset and a tool all recruiters should be looking into, it isn’t the only emerging technology you can implement. Poor candidate experience is the main cause of candidates breaking off relationships with recruiters. CRM systems have seen huge growth recently as they not only simplify the job of the recruiters, they can also go a long way for your candidate experience.
A good CRM system not only simplifies data processing and handling, but it also automates a lot of processes while leaving the human element in for relationship building. Ai and automation have their place, but they cannot fully replace one on one interaction.
If you’re ready to invest in your tools and practices, learn how the Crelate Recruiting CRM can give your productivity a much-needed boost.